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1 Dec, 4 tweets, 2 min read
Excellent debate between @ercwl and Udi Wertheimer on whether Lightning is the right technology for scalable bitcoin payments

I was surprised to see that Udi is less of a troll in podcasts than on Twitter.

Highly recommend 👏🏻

link.tospotify.com/rGLyRxv4Rbb
Eric argues that using rollups such as @zksync on Ethereum in combination with trustless bitcoin derivatives such as $tBTC are best suited for that purpose

Mainly bc Lightning has too many UX quirks (channel mgmt etc.)

And Ethereum L2’s having more eyeballs and dev mindshare
A bit sad that Udi made his side of the argument too simple by saying that there is no demand for crypto payments

Not even for stablecoins according to him 🤷‍♂️

Good job @stephanlivera for playing the neutral host 👍🏻
One thing is completely left out: the lack of incentives for bitcoin users to EVEN WANT to use Lightning

These incentives are given on Ethereum where users can put their $BTC derivatives to productive use

This translates into demand for p2p transfers or deposits into defi apps

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More from @litocoen

litocoen Profile picture
2 Dec
In light of @API3DAO's ongoing token distribution on @mesa_eth , I want to share my thoughts on why I think the project has serious potential in the oracle space

Actually, “oracle” might not even be the right word here as API3 doesn’t rly see itself as an oracle provider.. Image
1/ What's an oracle?

Simply put, an oracle is a piece of software that takes information which lives outside of the blockchain and delivers it onto the blockchain

Effectively acting as a bridge between off-chain and on-chain worlds 🔁
2/ *First party oracles vs. Third party oracles*

First party oracles are operated by the owners/API providers themselves

For a price feed that could e.g be @kraken or @coinbase running an oracle on-chain
Read 28 tweets
litocoen Profile picture
3 Sep
1/ I received lots of thankful DM's from people for my thread on @sushiswap so I am going to provide the same for $YFI

Btw, I am still mad at myself for sticking to my principle of not throwing money at unaudited projects and not buying $YFI.

Instead I bought in at $10k…
2) In essence, @iearnfinance is a yield aggregating protocol on Ethereum.

Instead of chasing yields by yourself (which is hard), give it to @iearnfinance, which will allocate it across various DeFi lending protocols to get you the BEST return.

3/ The protocol currently offers five products but it’s developing at light-speed so really, it is difficult to predict what @iearnfinance will or will not be tomorrow.
Read 26 tweets
litocoen Profile picture
31 Aug
1/ I've received a couple of questions from people asking what $SUSHI is about.

I'll try to summarize it.

The $SUSHI experiment looks silly on the outside but when you look past the funny sounding token nam, what's happening is quite significant.
2/ Some anonymous dev forked @UniswapProtocol the most important piece of infrastructure in the #DeFi space (a real cash cow),

AND

introduced a token on top that entitles its holders to a share of trading fees.

In the current @uniswap implementation all fees go to LP's.
3/ This is part of a new trend in DeFi to make token launches "Fair".

There were rumours that Uniswap would introduce its own $UNI token soon but a big chunk would have been distributed to VC investors, who invested in the company behind Uniswap.
Read 11 tweets
litocoen Profile picture
30 Aug
1/ I explained #DeFi to my brother this week-end.

He has been working as a bonds trader for many years.

He got it and liked it (invested stablecoins in @iearnfinance, checking his gainz on @zerion_io every 2 secs

But..
2/

But one of his criticisms is that it's a self referential system.

There's DEX's and lending platforms and ofc these protocols and their tokens are worth SOMETHING.

Afterall, their real world counterparts like @Fidelity or @FundingCircleUK are also worth something.

But..
3/ on the stock exchange you can buy stocks of co's that produce real cashflows.

Do these cashflow-producing assets exist in the DeFi world?

At the moment, we see an explosion of new DEX's (spot, perpetuals, margin etc.) and lending platforms.
Read 7 tweets
litocoen Profile picture
11 May
I am reading a book on the history of the @Visa Payment network (formerly BankAmericard) and I can't stop seeing parallels with crypto

1) Memes

Dee Hock, the founding father of Visa knew he had to do first get people accustomed to electronic payments

"Think of it as money" Image
Was Visa's iconic tag line. The campaign ran in television print etc. and was not just paid for by Visa itself but by all member banks

Fun fact: They received some extra free advertising when Hank Aaron hit his 755th home run directly over the "Think of it as money" billboard
2) Airdrops

Visa knew that they had to bootstrap a user base to make the system a success.

So Banks literally airdropped cards to people's homes and gave them a line of credit without asking any questions

The practice later became illegal
Read 19 tweets

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